Marijuana Economic Relief

Milton Friedman, 500+ Economists Call for Marijuana Regulation Debate; New Report Projects $10-14 Billion Annual Savings and Revenues
Chief among the endorsing economists are three Nobel Laureates in economics: Dr. Milton Friedman of the Hoover Institute, Dr. George Akerlof of the University of California at Berkeley, and Dr. Vernon Smith of George Mason University.

Dr. Miron's paper, "The Budgetary Implications of Marijuana Prohibition," concludes:
**Replacing marijuana prohibition with a system of legal regulation would save approximately $7.7 billion in government expenditures on prohibition enforcement -- $2.4 billion at the federal level and $5.3 billion at the state and local levels.

**Revenue from taxation of marijuana sales would range from $2.4 billion per year if marijuana were taxed like ordinary consumer goods to $6.2 billion if it were taxed like alcohol or tobacco.

These impacts are considerable, according to the Marijuana Policy Project in Washington, D.C. For example, $14 billion in annual combined annual savings and revenues would cover the securing of all "loose nukes" in the former Soviet Union (estimated by former Assistant Secretary of Defense Lawrence Korb at $30 billion) in less than three years. Just one year's savings would cover the full cost of anti-terrorism port security measures required by the Maritime Transportation Security Act of 2002. The Coast Guard has estimated these costs, covering 3,150 port facilities and 9,200 vessels, at $7.3 billion total.

"As Milton Friedman and over 500 economists have now said, it's time for a serious debate about whether marijuana prohibition makes any sense," said Rob Kampia, executive director of the Marijuana Policy Project in Washington, D.C.

Category:

News & Politics

Tags:

• legalize
• marijuana
• economy
• tax
• drug
• liberty

[swampfox213]

any one who is anti pot is a fucking retard

[skylinefootball]

Don't you just love how in the beginning of the video they call legalizing marijuana a radical proposal then at the end of the video they say 56% of califorinans agree with the proposal. Doesn't seem to radical an idea if the majority of people agree with it. Its also funny how the guy who owns the dispensery dosen't want marijuana legal because it would fuck up his business.

[BeaSiegal]

Maybe I should say legalizing it for the benefit of our economy is a bad idea. However sending people to jail and costing taxpayers more in holding and feeding nonviolent criminals is stupid. Smoking marijuana should receive the same punishment as a traffic ticket with the same escalation.

[BeaSiegal]

Legalizing marijuana is a knee-jerk reaction to fiscal irresponsibility. It's a band-aid solution to a terminal issue.

[cdmillig]

a "radical idea?"

the radical idea is to support prohibition.

[fishermangonewild]

@skylinefootball 56% agree with legalization but another large percentage also know that its not bad for you but dont care if its legal.

[guitarzeroh]

You should hear the vid I posted on Herbal etc..